Central Petroleum Initiates Mereenie Field Development

Horizon Oil Limited (AU:HZN) has released an update.

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Central Petroleum Limited has commenced drilling its first development well in the Mereenie field, aiming to boost production capacity above 30 terajoules per day. The initiative is part of a two-well program expected to produce at least 25 petajoules of gas over their lifespan, potentially enhancing cash flow through expanded gas sales agreements.

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